Lenkie secures £49M to fund business supplier payments and accelerate growth in UK
Lenkie, a cashflow management platform, has secured £49M in Series A funding to tackle the UK’s £22B SME funding gap. The round includes £4M in equity and a £45M debt facility, led by a major US private credit fund. Lenkie’s innovative approach focuses on payables financing—directly paying suppliers on behalf of SMEs—allowing growing businesses to secure essential resources upfront. By leveraging real-time data and proprietary underwriting technology, Lenkie provides fast, flexible financing solutions tailored to modern business needs, breaking away from the rigid and outdated lending models of traditional banks.
Founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie has already funded over £70M to underserved SMEs and facilitated supplier payments across 40 countries. Jeyakumar, a former Citigroup credit trader, saw first-hand how real-time data could de-risk financing and drive financial inclusion. This inspired Lenkie’s transaction-based funding model, which aligns with SMEs’ real-time growth cycles rather than relying on inflexible loans. As SMEs drive 60% of UK employment and 50% of GDP, the demand for alternative financing solutions has never been higher, making Lenkie’s tailored, need-based approach particularly relevant.
With its fresh funding, Lenkie plans to enhance its data-driven underwriting models, expand platform partnerships, and explore new markets. By removing borrowing friction and providing seamless access to capital, the company is unlocking new growth opportunities for UK entrepreneurs. Lenkie’s impact is already evident, with businesses like Mongas Kids Wear Limited crediting its solutions for enabling investment in stock, customer acquisition, and supplier relationships. As it scales, Lenkie is not just bridging the SME funding gap but reshaping the future of business finance.
BGF Sets Its Sights on OCL Vision with Strategic investment
BGF, one of the largest growth capital investors in the UK and Ireland, has made a significant multi-million-pound investment in OCL Vision, a premium ophthalmology group. Founded in 2018 by renowned eye surgeons Ali Mearza, Allon Barsam, and Romesh Angunawela—later joined by Chien Wong—OCL Vision has expanded from a single site in London to a fast-growing healthcare group with three locations. Performing nearly 4,000 private procedures annually, the company offers both elective and clinical ophthalmic treatments, including laser vision correction, cataract surgery, and retinal procedures. The investment will fuel OCL Vision’s expansion across the UK, alongside marketing and sales enhancements to drive further organic growth.
OCL Vision has experienced strong momentum, recording double-digit growth in patient numbers and revenue in 2024. Its commitment to clinical excellence was recognised with the Best Healthcare Outcomes award at the 2024 Laing Buisson Awards and by the Care Quality Commission (CQC). The company recently bolstered its leadership team, appointing Nicholas Rudge as CEO, Darren Millington as CFO, and Suzanne Lawrence as non-executive Chair through BGF’s Talent Network. With a background in both private and public healthcare, Lawrence brings strategic expertise to help steer the company’s next phase of expansion.
Shop Circle raises £47.3M Series B to drive the future of AI-powered B2B software
Shop Circle, a leading provider of AI-powered B2B software solutions, has successfully raised £47.3M in a Series B funding round. The round was led by Nextalia Ventures, with participation from Endeavor Catalyst, NFX, QED Investors, and several other notable investors. This funding round underscores strong confidence in Shop Circle’s business model, with the company reporting a 110% increase in year-over-year revenue and consistent profitability for two consecutive years.
The company’s AI-driven commerce solutions help businesses streamline operations and enhance customer experiences. Shop Circle plans to accelerate its growth, doubling its revenue over the next 12 months and expanding into adjacent verticals through acquisitions. Notably, the company has made its first platform-agnostic acquisition with Aiden, an AI-powered guided selling software, which will help expand its customer base from SMBs to enterprises.
Cloudsmith raises £18M Series B to secure the future of software supply chains
Cloudsmith, a cloud-native artifact management platform, has raised £18.14M in a Series B funding round led by TCV, with participation from Insight Partners and existing investors. The company has experienced impressive growth, expanding its enterprise customer base by nearly 150% last year, adding Fortune 500 and Global 2000 companies. The new funding will be used to accelerate Cloudsmith’s sales, marketing, and customer success teams, as well as drive innovation in software supply chain security and AI research.
As enterprises face mounting security threats and compliance pressures, Cloudsmith’s platform provides centralised, scalable solutions to manage artifacts across diverse formats and technologies. With over 90% of software applications sourced from open-source and third-party code, securing these artifacts has become a top priority for developers and cybersecurity teams. Cloudsmith helps organisations achieve real-time observability and proactive risk mitigation without slowing down development.
The funding will enable Cloudsmith to expand its global operations, particularly in engineering and customer success, to meet the increasing demand for software supply chain security. With 75% of its revenue coming from U.S.-based customers, the company is solidifying its position as a leader in artifact management and software supply chain security, supporting some of the world’s largest and most complex organisations.
Hands In secures over £1M to expand split payment solutions
Hands In, the fintech innovator in split payment solutions, has raised over £1M in its latest funding round, accelerating its expansion into key sectors and scaling its operations. This investment follows a £500,000 pre-seed round in 2023, bringing total funding to over £1M within two years. The round includes backing from notable fintech investors, including Ryta Zasiekina, founder of CONCRYT, who brings extensive payments and banking expertise. Hands In’s multi-card payment solution has already demonstrated its value with major clients such as Air Europa, reducing payment failures and increasing conversions.
Founded in 2022, Hands In enables seamless group payments, helping merchants in travel, ticketing, and hospitality recover declined transactions and boost revenue. The new funding will support the activation of signed contracts set to go live in 2025, the pursuit of additional enterprise deals, and the company’s goal of reaching £1 million in Annual Recurring Revenue (ARR).
Hands In has gained significant industry recognition, winning accolades such as Travolution’s Start-Up of the Year 2024 and Mastercard’s Best Technology Innovation 2024. It has also been named one of Sifted’s ‘Ones to Watch’ and recognised by Retail Week as a top payment disruptor. With demand for flexible payment solutions growing, Hands In is well-positioned to scale its technology and redefine the future of split payments globally.
Heidi secures £12M in funding to free up clinicians to focus on patient care
Heidi, a healthcare AI company revolutionising clinician workflows, has raised £12.62M in its Series A follow-on round, led by Headline with participation from Local Globe, Anthology, and existing investors. The funding will accelerate Heidi's mission to ease clinician workloads, which are stretched due to the projected global health worker shortfall. Heidi’s AI scribe automates note-taking and document generation, freeing clinicians from over two hours of administrative work daily, allowing them to focus more on patient care. Unlike other AI tools that are restricted to certain environments, Heidi operates effectively in busy clinical settings, from emergency departments to surgical theatres.
Since its launch in February 2024, Heidi’s scribe has been deployed in over 20 million patient interactions, now supporting 1 million consultations weekly. The scribe works ambiently, fully compliant with global privacy regulations, and has been adopted across the US, UK, Canada, Australia, and the EU. Heidi plans to expand beyond scribing, adding features like pre-chart summaries, clinical guideline access, and patient engagement outside the clinic. CEO Dr. Thomas Kelly, a former vascular surgical resident, founded Heidi to reduce clinician burnout and improve healthcare system capacity.
75Media secures seven-figure NPIF II investment to power expansion and innovation
75Media, the UK’s fastest-growing roadside media operator, has secured a seven-figure investment from NPIF II – Mercia Equity Finance, managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II). The funding will accelerate technological advancements, particularly the development of 75Media’s AI-powered BOB (Billboard Optioning & Booking) system, which aims to make outdoor advertising more accessible for businesses of all sizes. Additionally, the investment will fuel the company’s international expansion, following its recent market entries in the US, Scandinavia, and the Middle East.
Since launching in 2020 with just two employees and 140 billboard sites, 75Media has grown rapidly to become the second-largest operator of large-format roadside billboards in the UK. In 2024, the company’s revenue surged by 454%, and its workforce more than doubled to 56 employees. The acquisition of London-based iQ OOH in early 2024, alongside other strategic deals, has expanded its network to over 1,200 billboard sites across the UK. Reflecting this growth, 75Media has restructured its leadership team, with founder Paul Inman transitioning from Managing Director to CEO, Joel Turner stepping into the Managing Director role, and Joe Lawson becoming Commercial Director.
Purpose-led olive oil business Citizens of Soil secures £1.8M Seed funding
Citizens of Soil, a purpose-led UK-based extra virgin olive oil company, has secured £1.8M in Seed funding, co-led by FIGR Ventures and a private family office, along with additional strategic investors. The funding will accelerate the company's growth, including new product launches, expanding its leadership team, and increasing marketing efforts to raise brand awareness. Citizens of Soil also plans to expand internationally, taking its ‘Olive Oil Club’ into new markets and building on its growing community of olive oil enthusiasts focused on quality, sustainability, and ethical production.
Founded in 2021 by Michael and Sarah Vachon, Citizens of Soil offers award-winning olive oils sourced from small-batch, family-run farms that practice regenerative farming and champion women across the supply chain. The company’s mission is to address the issues in the olive oil industry, such as poor transparency and underpaid farmers, by delivering fresher, higher-quality oils directly from producers to consumers. With increasing demand for premium, ethically-sourced food products, the business is now poised for global expansion, supported by this latest round of investment.
Epoch Biodesign Raises £14.38M to turn the plastic crisis into a circular revolution
Epoch Biodesign has raised £14.38M in Series A funding, led by Extantia Capital, with support from investors including Inditex and Lowercarbon Capital. The capital will help the company build its first plant, expand its enzyme library, and serve major textile customers across industries such as fashion, automotive, and chemicals. Epoch’s biorecycling technology uses AI-powered enzymes to break down plastics at room temperature, converting waste into valuable chemicals. The company aims to process tens of thousands of tonnes of waste by 2028, positioning itself as a leader in sustainable plastic recycling.
Epoch's innovation addresses the limitations of traditional recycling methods, offering a scalable, cost-effective solution that recovers the full value of plastic materials. The company’s approach helps businesses meet recycling mandates while lowering material costs, promoting circularity in industries like apparel. Epoch’s growing network of over 40 partnerships and its collaboration with Inditex further highlight the potential of its technology to revolutionize plastic waste management and meet the global demand for sustainable materials.
PassEntry raises £5.2M investment round to expand to five countries and expand the issuance of digital passes
PassEntry has secured a £5.2M investment round led by Acurio Ventures and Bonsai Partners to accelerate its growth and strengthen its leadership in digital pass issuance. The funding will enable the company to expand its customer base by 300% and enter five new markets, with a strong focus on North America and the Asia Pacific region. By the end of 2025, PassEntry aims to be present in more than 10 major markets, solidifying its position as a global leader in digital pass management.
The company is redefining how businesses distribute and manage digital passes—such as loyalty cards, event tickets, and membership passes—by ensuring seamless integration with Apple Wallet and Google Wallet. With a focus on frictionless integration into point-of-sale systems, PassEntry is streamlining customer engagement, making pass issuance effortless for businesses. “It’s not just about issuing passes; it’s about eliminating complexity so businesses can focus on growth,” said Nico Cary, CTO and Co-Founder of PassEntry.
Investors see PassEntry as a key player in the next wave of digital transformation. "PassEntry is revolutionising digital wallets and unlocking new revenue streams for businesses," said Ander Michelena, Founding Partner at Acurio Ventures. Javier Cebrían, General Partner at Bonsai Partners, echoed this sentiment, stating, "PassEntry is unlocking new possibilities for businesses and consumers alike, and we are excited to support their expansion."
Quantexa completes £136.32M Series F Investment, led by Teachers’ Venture Growth
Quantexa, a global leader in Decision Intelligence (DI) solutions, has successfully completed a £136.32M Series F investment round, led by Teachers’ Venture Growth (TVG). The funding, which values the company at $2.6B, will support Quantexa’s efforts to accelerate its growth, strengthen its platform innovation, and expand further into North America. The round also saw participation from existing investors such as British Patient Capital, and TVG’s Managing Director, Ara Yeromian, will join the company’s board. The investment will enable Quantexa to create new partnerships, deepen its North American presence, and explore select M&A opportunities.
The Series F round follows Quantexa’s achievement of Centaur status, joining a prestigious group of SaaS businesses with over USD 100 million in annual recurring revenue (ARR). The company’s rapid expansion reflects the increasing demand for its AI-driven DI platform, helping enterprises and government agencies leverage trusted data to enhance decision-making. Quantexa’s growth trajectory includes a 40% increase in license revenue and 23 new customers in 2024, with its reach now extending beyond financial services into sectors like insurance and the public sector. With this latest funding, Quantexa aims to solidify its leadership in the DI space and continue scaling its operations globally.
Notify raises £1.5M to improve workplace safety with AI
Notify Technology, a UK-based Safety Tech company with clients including McDonald’s, Siemens, and the NHS, has secured a further £1.5M in funding from Calculus Capital, the North East Venture Fund (supported by the European Regional Development Fund and managed by Mercia Ventures), and private investors. The investment will be used to enhance Notify’s platform with AI-powered features and to scale its sales and marketing efforts. The company’s software enables businesses to centrally manage workplace safety, including accident reporting, audits, inspections, and risk assessments. With over 250,000 users worldwide, Notify’s platform is also adopted for environmental and quality management by major brands such as Wickes, Travis Perkins, and Menzies Distribution.
Founded in 2017 and headquartered in Newcastle, Notify has grown to a team of 27 and increased annual recurring revenue (ARR) by 47% over the past 18 months. This latest funding round brings its total investment to over £7M. CEO Duncan Davies highlighted Notify’s position as a challenger brand in Safety Tech, emphasising its commitment to service, innovation, and improving workforce safety. Investors see significant potential in Notify’s AI-driven approach, with Mercia Ventures’ Natalia Blagburn noting that AI integration will shift safety management from reactive to proactive—helping businesses prevent accidents rather than just responding to them.
In other investment news
Arāya Ventures rolls out £20M first fund to back 60 innovative startups
The partnership with British Business Investments, made through their Regional Angels Programme, highlights Arāya’s commitment to addressing regional imbalances in early-stage equity finance. The fund's investors include prominent entrepreneurs, VC investors, and family offices from the UK and Middle East. Rupa Popat, a former entrepreneur and angel investor, expressed pride in Arāya’s first fund and its ability to provide both capital and strategic support to founders, ensuring their growth and success in a competitive landscape.
Haatch announces exit of Re-flow, delivering up to 6.55x return for investors
Haatch, the early-stage investor, has announced the successful all-cash exit of Re-flow, a leading field management SaaS company, delivering up to 6.55x returns for investors in its EIS funds. The acquisition by a private equity firm underscores Haatch’s commitment to backing and scaling high-growth B2B SaaS companies. Since its initial investment in 2020, Haatch has helped Re-flow grow from 1,500 users and £27K in monthly recurring revenue to over 30,000 users at exit. Investors in Haatch’s EIS Fund 4 and EIS Fund 8 have benefited from significant, tax-free gains under EIS regulations.
Re-flow has revolutionised field operations for construction, highways, and civil engineering by replacing outdated, paper-based processes with a mobile-first SaaS platform. The company’s software has driven efficiency and compliance improvements for major clients such as AA, Tarmac, and Eurofins Forensic Services. Haatch played an active role in refining Re-flow’s sales and marketing strategies, accelerating its enterprise growth. With 80% of Haatch’s portfolio still under four years old, this exit signals more success stories ahead, reinforcing its reputation for identifying and scaling high-retention SaaS solutions.
In international investment news
Quantum Industries raises $10M to revolutionise critical infrastructure cybersecurity for the quantum era
Quantum Industries GmbH (QI), a leader in quantum-secure communications, has successfully raised $10M in seed funding to commercialise its groundbreaking technology. The funding will help QI deliver its proprietary Quantum Key Distribution (eQKD) technology, which provides unbreakable encryption through quantum entanglement, making it the only solution capable of protecting communications against both cyberattacks and the future threats posed by quantum computing. As the European supplier for the EuroQCI programme, QI is building the foundation for a pan-continental quantum-secure communication network, with initial sales of €1.8M in its second year.
The financing round, led by Sparring Capital Partners, Findus Venture, and KGAL, also includes grants from government innovation agencies. QI’s technology is not only pivotal for securing critical infrastructure but also supports the next generation of data centres, enabling quantum computers to securely process and store data. Co-founders Dr. Felix Tiefenbacher and Dr. Rupert Ursin are committed to positioning QI as a global leader in quantum-secure communications, with investor support fueling their vision for a safer, more secure future.
Cino raises €3.5M to revolutionise shared payments with the first virtual card that splits and pays group bills instantly
Cino, the first real-time shared payment app that allows people to pay together in a single transaction, has raised €3.5M in Seed funding. The round was led by Balderton Capital, with participation from Connect Ventures and notable angel investors, including Cleo founder Barney Hussey-Yeo. The investment will support Cino’s UK launch and its continued expansion across Europe.
Founded in 2023 by Elena Churilova (CEO) and Lina Saleh (COO), Cino was designed for Gen Z’s digital-first payment habits. Unlike traditional bill-splitting apps, Cino removes the need for reimbursements by charging each person their share at checkout, directly from their bank accounts. Users link their cards to the app, receive a virtual Cino card, and can set up shared payment groups with adjustable split ratios—making spending together as seamless as paying alone.
Cino is already seeing rapid adoption, with 100% month-on-month growth in Finland and Italy. Groups use the app on average 17 times per month, with spending reaching up to €3,000. As the platform prepares for its UK rollout, the company is also exploring new verticals, including B2B payments and rent.
Greta Anderson of Balderton Capital commented: “For too long, people have accepted bill-splitting and repayment requests as the only way to manage shared expenses—simply because there was no alternative. Cino’s viral growth proves there is a better way, and we’re excited to support Elena and Lina as they redefine how money moves between people and groups.”
Needle secures £1.73M to help organisations unlock the potential of AI through its data search and agent development platform
Needle, an AI-powered search and agent development platform, has raised £1.73M in seed funding, led by 468 Capital and Presight Capital. The funding will expand Needle’s engineering team, enhance its core technology, and accelerate its go-to-market strategy. Co-headquartered in Berlin and San Francisco, Needle solves a critical challenge in enterprise AI—unlocking valuable data trapped in legacy systems and siloed storage. By integrating with tools like Gmail, Confluence, Slack, and GitHub, the platform creates a unified search layer that enables businesses to retrieve insights, automate workflows, and build AI agents effortlessly. Its agentic retrieval-augmented generation (RAG) technology ensures fast, reliable access to data without requiring deep technical expertise.
Despite being only a few months old, Needle has already onboarded thousands of users and fostered a strong developer community, integrating with frameworks such as Anthropic’s Claude MCP, Langchain, and Haystack. Founded by Onur Eken (CTO) and Jan Heimes (CEO), who have backgrounds at Delivery Hero, Celonis, and Climeworks, Needle is designed to make AI adoption seamless for organisations of all sizes. “Businesses are sitting on goldmines of data that current AI systems can’t access,” said Heimes. “We help them unlock that value instantly.” With AI adoption accelerating and the global AI market projected to grow at 36.6% CAGR from 2024 to 2030, Needle is positioned to eliminate data accessibility barriers and drive enterprise AI transformation.
Taktile secures $54M to enable risk experts to take control of AI adoption for decision making in financial services
Taktile, the decision automation platform for fintech and financial institutions, has raised $54M in Series B funding, bringing its total to $79M. The round was led by Balderton Capital, with participation from Index Ventures, Tiger Global, and others, including former US Treasury Secretary Larry Summers. This funding will help Taktile expand its risk management capabilities, enabling businesses to optimise AI-powered decision-making across the customer lifecycle. Taktile’s platform already supports hundreds of millions of risk decisions per month and is used by clients including Mercury, Allianz, and Rakuten Bank.
Founded by Maik Taro Wehmeyer and Maximilian Eber, Taktile empowers teams to build, manage, and optimise complex AI workflows and decision logic while keeping control in the hands of risk experts. In just one year, Taktile quadrupled its customer base and grew its ARR over 3.5x, becoming a category leader in the industry. The company’s platform is already streamlining underwriting, fraud, and credit decision-making processes, saving significant time and costs for clients like Zilch, Zippi, and Allianz. Taktile’s success underscores the growing importance of AI in high-stakes decision-making for regulated industries.
